This paper provides an empirical analysis of individual earnings using data from the Encuesta Suplementaria de Ingresos. We find that the predictable component of income is hump-shaped over the life-cycle, and that there are strong education effects. The unpredictable component of income can be...

The per capita growth rate of Chile from 1984 to 1997 was among the highest in the world. During recent years, however, per capita growth dropped significantly. This paper discusses the role of factor accumulation and the efficiency with which factors are used, measured as total factor...

Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a connection between aggregate growth and plant dynamics through their effect on productivity: the...